Company Overview
ADMA Biologics, Inc. operates as a biopharmaceutical entity dedicated to the development, manufacturing, and marketing of specialty plasma-derived biologics designed to treat immune deficiencies and infectious diseases across the United States and international markets. The company functions within the Healthcare sector and the Biotechnology industry, a classification that signifies its reliance on scientific innovation to produce therapeutic agents derived from human plasma for specialized patient populations. In terms of operational scale, the firm employs 640 individuals and maintains a market capitalization of $3.58B, generating annual revenue (TTM) of $510.17M. These financial dimensions indicate that ADMA holds a significant position within the niche plasma-derived biologics landscape, supported by a substantial asset base and a workforce capable of managing complex manufacturing and collection operations.
Financial Health
The company reported a revenue of $510.17M (TTM) alongside a net income of $146.93M (TTM) and an EBITDA of $199.54M, revealing a cost structure where operating expenses and taxes consume approximately 59.5% of total revenue before reaching the bottom line. However, the free cash flow stands at -$18,154,876, which suggests that despite profitable operations, the company is currently consuming cash, likely due to capital expenditures required for manufacturing expansion or inventory buildup in its plasma collection network. The gross margin is 57.4%, indicating that the company retains more than half of its revenue as gross profit before accounting for operating expenses, a healthy figure for the biotechnology sector. The operating margin of 45.1% and profit margin of 28.8% further demonstrate efficient cost management and strong profitability relative to revenue generation. On the balance sheet, total cash of $87.63M exceeds total debt of $79.89M, resulting in a debt-to-equity ratio of 16.74, which points to a leveraged position where equity obligations are more than sixteen times the debt load, though the cash buffer provides immediate coverage. The current ratio is 6.71, a metric that signifies robust short-term liquidity, meaning the company holds significantly more current assets than current liabilities to meet its obligations. Return on Equity is 35.6% and Return on Assets is 21.5%, metrics that reveal highly effective management in generating returns from shareholders' investments and the total asset base utilized in operations.
Valuation Assessment
The trailing P/E ratio is 25.03 while the forward P/E is 10.88, implying that the market expects earnings to increase significantly in the coming years to justify the lower forward multiple compared to the historical trailing figure. The price-to-book ratio is 7.48, indicating that the market values the company at a substantial premium over its book value, reflecting the high intangible value of intellectual property and plasma supply chains not captured on the balance sheet. Additionally, the price-to-sales ratio is 7.01 and the EV/EBITDA is 17.89, suggesting that valuation is being driven by revenue growth potential and earnings power rather than just asset tangibility. The 52-week high is $25.67 and the 52-week low is $13.76, and without the specific current price to calculate a precise percentage, the valuation context is defined by this wide trading range of $11.91. The beta value is 0.59, which means the stock exhibits lower volatility relative to the broader market, moving less aggressively than the overall index during periods of market fluctuation.
Growth & Income
Revenue growth (YoY) is 18.4% while earnings growth (YoY) is -52.8%, indicating that earnings are currently declining at a much faster rate than revenue is expanding, which often occurs during periods of heavy reinvestment or one-time cost adjustments. As a non-dividend payer, the company has a dividend yield of N/A and a payout ratio of 0.0%, confirming that it does not distribute cash to shareholders but instead retains all earnings to fuel business expansion and manufacturing capabilities. This reinvestment strategy aligns with the company's growth profile, prioritizing capital allocation toward developing new biologics and securing plasma sources rather than providing immediate income. The overall growth and income profile is characterized by strong top-line expansion that currently outpaces bottom-line performance, with capital returns directed entirely into operational growth initiatives.